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Block (SQ) Love this one over the 100D 3 touches now and rejections but holding strong
By: Options Mike | August 14, 2022
• $SQ Love this one over the 100D 3 touches now and rejections but holding strong.
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Cathie Wood's ARK Invest Sells 195,618 More Shares of Block Inc. (SQ)
By: Ark Invest Daily | August 10, 2022
• Cathie Wood & Ark Invest's trade activity from today 8/10.
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Cathie Wood's ARK Invest Sells 235,489 Shares of Block Inc. (SQ)
By: Ark Invest Daily | August 8, 2022
• Cathie Wood & Ark Invest's trade activity from today 8/8.
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$SQ Needs to break the 100D to go now, held the 8D on earnings
By: Options Mike | August 7, 2022
• $SQ Earnings weakness bought back (theme in this market).
Needs to break the 100D to go now, held the 8D on earnings.
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Block, Inc. (SQ) Insider Alyssa Henry Sells 30,769 Shares
By: MarketBeat | August 6, 2022
• Block, Inc. (NYSE:SQ - Get Rating) insider Alyssa Henry sold 30,769 shares of the firm's stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $81.88, for a total value of $2,519,365.72. Following the transaction, the insider now directly owns 428,058 shares of the company's stock, valued at approximately $35,049,389.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link...
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Block (SQ) Shares Gap Down After Insider Selling
By: MarketBeat | August 5, 2022
• Block, Inc. (NYSE:SQ - Get Rating)'s share price gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $89.70, but opened at $83.43. Block shares last traded at $90.86, with a volume of 280,781 shares changing hands. Specifically, CAO Ajmere Dale sold 883 shares of the firm's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $62.63, for a total transaction of $55,302.29. Following the sale, the chief accounting officer now owns 48,797 shares of the company's stock, valued at approximately $3,056,156.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink...
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Block, Inc. (SQ) - 3 Risky Crypto Stocks Investors Should Avoid
By: Stock News | August 5, 2022
The ongoing war in Ukraine and the 40-year high inflation are affecting cryptocurrency prices. Moreover, the leading cryptocurrency, Bitcoin, dropped below $23,000 recently after the second-quarter GDP report. Bitcoin hasn’t been above $50,000 since late December 2021. The cryptocurrency has been trading between a tight range of $22,000-$25,000.
Bitcoin again fell on Thursday on U.S. labor market numbers which indicated a weakening market. On top of it, adding to the volatility in the crypto market is the IMF’s forecast that the economic growth will slow from 6.1% last year to 3.2% this year.
The broader economy might impact the performance of the risky asset in the near term. Hence, we think the crypto stocks Block, Inc. (SQ), Silvergate Capital Corporation (SI), and MicroStrategy Incorporated (MSTR) might be best avoided now.
Block, Inc. (SQ)
SQ provides tools that enable sellers to accept card payments and provides reporting and analytics and next-day settlement. The company’s hardware product offerings include Magstripe reader and Contactless and chip reader, and it offers software products, including Square Point of Sale, Square Appointments, and Square for Retail.
For the fiscal second quarter ended June 30, SQ’s total net revenue decreased 5.9% year-over-year to $4.40 billion. Adjusted net income declined 56.8% from the prior-year quarter to $110.74 million. Adjusted net income per share came in at $0.18, down 63.3% from the same period the prior year.
Analysts expect SQ’s revenue for the fiscal year 2022 to increase marginally year-over-year to $17.76 billion.
The stock has declined 66.3% over the past year and 44.5% year-to-date to close its last trading session at $89.70.
SQ’s POWR Ratings reflect this bleak outlook. The stock has an overall F rating, equating to a Strong Sell in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
SQ has a Stability grade of F and a Growth, Value, and Sentiment grade of D. In the 109-stock Financial Services (Enterprise) industry, it is ranked #103. The industry is rated D. Click here to see the additional POWR Ratings for SQ (Momentum and Quality)...
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Block (SQ) posted a loss of $208million = $(0.36) in EPS adjusted to $0.18
By: Markets & Mayhem | August 5, 2022
• Block posted a loss of $208million = $(0.36) in EPS adjusted to $0.18. A bunch of stuff gets adjusted and EPS is positive.
These numbers deserve a second look.
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Earnings Preview: Block Inc. (NYSE: SQ)
By: 24/7 Wall St. | August 3, 2022
Block
Over the past 12 months, Block Inc. (NYSE: SQ) has seen its share price fall by about 71%, with all the decline coming since early November. The fintech company got a boost Wednesday morning following PayPal’s earnings report. Investors are going to be most interested in what Block has to say about its outlook for the second half of this year. Inflation and recession worries will affect consumer spending, and that is where Block makes its money.
Analysts remain mostly bullish on the shares, with 35 of 47 brokerages having a rating of Buy or Strong Buy. Another 10 rate the stock at Hold. At a share price of around $79.10, the upside potential based on a median price target of $111.00 is 40%. At the high price of $210.00, the upside potential is 89.2%.
Second-quarter revenue is forecast at $4.33 billion, up 9.5% sequentially but down 7.5% year over year. Adjusted EPS are expected to come in at $0.16, down 10.9% sequentially and by 75.8% year over year. For full fiscal 2022, estimates call for EPS of $0.83, down 51.3%, on sales of $17.61 billion, down 0.3%.
Square stock trades at 95.1 times expected 2022 EPS, 49.3 times estimated 2023 earnings of $1.60 and 32.7 times estimated 2024 earnings of $2.42 per share. The stock’s 52-week range is $56.01 to $289.23. Square does not pay a dividend. The total shareholder return for the past year was negative 71%.
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Square, Inc. (SQ) Receives Consensus Recommendation of "Moderate Buy" from Analysts
By: MarketBeat | July 31, 2022
• Square, Inc. (NYSE:SQ - Get Rating) has earned a consensus recommendation of "Moderate Buy" from the forty-six brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $163.60...
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Insider Selling: Square, Inc. (SQ) Insider Sells 30,770 Shares of Stock
By: MarketBeat | July 29, 2022
• Square, Inc. (NYSE:SQ - Get Rating) insider Alyssa Henry sold 30,770 shares of the business's stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $68.47, for a total value of $2,106,821.90. Following the completion of the transaction, the insider now directly owns 428,058 shares in the company, valued at $29,309,131.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website...
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Square (SQ) Price Target Lowered to $120.00 at Wells Fargo & Company
By: MarketBeat | July 26, 2022
• Square (NYSE:SQ - Get Rating) had its price target cut by investment analysts at Wells Fargo & Company from $165.00 to $120.00 in a report released on Tuesday, The Fly reports. The brokerage currently has a "maintains" rating on the technology company's stock. Wells Fargo & Company's target price would indicate a potential upside of 64.25% from the stock's current price...
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You are very welcome! I am pleased that someone reads informative posts.
Best of luck with your investments!
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SQ Insiders have been cashing in all month long
By: TrendSpider | July 25, 2022
• $SQ Insiders have been cashing in all month long.
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***Verifying: http://openinsider.com/search?q=SQ
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Alyssa Henry Sells 30,770 Shares of Square, Inc. (SQ) Stock
By: MarketBeat | July 23, 2022
• Square, Inc. (NYSE:SQ - Get Rating) insider Alyssa Henry sold 30,770 shares of the firm's stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $71.26, for a total value of $2,192,670.20. Following the sale, the insider now owns 428,058 shares of the company's stock, valued at approximately $30,503,413.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link...
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SQ nice bounce with the markets, but struggling to clear the 50D, still lagging
By: Options Mike | July 24, 2022
• $SQ nice bounce with the markets, but struggling to clear the 50D, still lagging.
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$SQ Breaking higher this week but rejected by the 50 day EMA on Friday
By: TrendSpider | July 23, 2022
• $SQ Breaking higher this week but rejected by the 50 day EMA on Friday.
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Square (SQ) Price Target Cut to $100.00 by Analysts at Susquehanna Bancshares
By: MarketBeat | July 19, 2022
• Square (NYSE:SQ - Get Rating) had its price objective reduced by equities research analysts at Susquehanna Bancshares from $160.00 to $100.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage currently has a "positive" rating on the technology company's stock. Susquehanna Bancshares' price objective points to a potential upside of 46.91% from the company's current price...
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Bear of the Day: Block Inc. (SQ)
By: Zacks Investment Research | July 18, 2022
Block Inc. (SQ), formally known as Square, has transformed from a small company that sold credit card readers for smart devices into a diversified financial tech standout.
Block’s long-term outlook appears relatively intact in our digital money world. But SQ shares have tumbled alongside most other growth stocks. Block also faces tough-to-compete-against periods and the prospect of slowing consumer spending.
Block’s Story
Block portfolio includes a range of point-of-sale offerings, broader payment software and infrastructure, business loans, peer-to-peer payments, bitcoin transactions, and much more. The company’s goal is to be a futuristic digital-native banking and financial services powerhouse for both sellers and consumers.
Block’s business-focused fintech offerings are catching on with larger sellers amid the continued e-commerce revolution and it’s been able to successfully join together its in-person POS segment and its digital commerce features. Wall Street also grew to love its P2P platform the Cash App.
Block made a pretty big splash when it decided to acquire “buy now, pay later” standout Afterpay. The all-stock deal valued at $29 billion closed on January 31. The broader buy now, pay later segment has, however, come under pressure amid the market selloff and downbeat consumer sentiment.
Image Source: Zacks Investment Research
Block is coming off to an impressive run of top-line growth that included 86% sales expansion in 2021 and 102% in 2020 which saw it climb from $4.7 billion in total FY19 revenue to $17.7 billion in 2021. These are nearly impossible to compete against periods, boosted by the covid economy.
With this in mind, current Zacks estimates still call for Block’s 2022 revenue to climb roughly 2% and then jump another 23% in 2023. Both would mark by far its slowest ever growth as a public firm. At the same time, its adjusted 2022 earnings are projected to drop 50% YoY to $0.85 a share. And its consensus FY22 and FY23 EPS estimates have fallen since its last release.
Bottom Line
Block’s downward earnings revisions help it land a Zacks Rank #5 (Strong Sell) at the moment. Wall Street has also continued to hammer SQ alongside all things growth, with the stock down over 75% since last August and 60% in 2022. All of its covid gains are gone, with it trading within a range it hovered between in 2018, 2019, and 2020.
The downturn and SQ’s current levels might attract some long-term investors. But it might be best to stay away from the stock at least until Wall Street shows some willingness to buy these beaten-down names.
Investors won’t have to wait too long for company updates, with Block set to report its quarterly results on August 4.
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SQ Has to take out the 21D to release, 50D would be the next target
By: Options Mike | July 17, 2022
• $SQ Has to take out the 21D to release, 50D would be the next target.
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Cathie Wood's ARK Invest Buys 32,297 More Shares of Block Inc. (SQ)
By: Ark Invest Daily | July 15, 2022
• Cathie Wood & Ark Invest's trade activity from today 7/15.
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Cathie Wood's ARK Invest Buys 101,720 More Shares of Block Inc. (SQ)
By: Ark Invest Daily | July 14, 2022
• Cathie Wood & Ark Invest's trade activity from today 7/14.
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A lot of put premium paid for $SQ, $NFLX, $PYPL, $AMZN ahead of earnings season ...
By: Markets & Mayhem | July 13, 2022
• A lot of put premium paid for $NFLX, $SQ, $PYPL, $AMZN ahead of earnings season ...
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Square (SQ) Given New $100.00 Price Target at Keefe, Bruyette & Woods
By: MarketBeat | July 11, 2022
• Square (NYSE:SQ - Get Rating) had its target price lowered by stock analysts at Keefe, Bruyette & Woods from $150.00 to $100.00 in a research note issued to investors on Monday, The Fly reports. Keefe, Bruyette & Woods' target price would suggest a potential upside of 55.50% from the stock's previous close...
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SQ Weekly Chart: Riding Big Long Term Volume Shelf
By: Options Mike | July 12, 2022
• $SQ Riding Big Long Term Volume Shelf.
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$SQ Needs to hold the volume shelf here to avoid a bear pennant breakdown
By: TrendSpider | July 11, 2022
• $SQ Needs to hold the volume shelf here to avoid a bear pennant breakdown.
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$SQ notable on a strong week, this one failed at the 21D 3 days in a row
By: Options Mike | July 9, 2022
• $SQ notable on a strong week, this one failed at the 21D 3 days in a row. Above there with volume I like it for a 50D test.
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Square (SQ) Price Target Lowered to $80.00 at KeyCorp
By: MarketBeat | July 7, 2022
• Square (NYSE:SQ - Get Rating) had its price objective reduced by equities researchers at KeyCorp from $180.00 to $80.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. KeyCorp's price target would suggest a potential upside of 23.13% from the company's current price...
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SQ Square insiders take a pay day
By: TrendSpider | July 8, 2022
• $SQ Square insiders take a pay day.
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Cathie Wood's ARK Invest Buys 129,448 More Shares of Block Inc. (SQ)
By: Ark Invest Daily | July 6, 2022
• Cathie Wood & Ark Invest's trade activity from today 7/6.
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Square (SQ) PT Lowered to $84.00 at Piper Sandler
By: MarketBeat | July 6, 2022
• Square (NYSE:SQ - Get Rating) had its price target lowered by research analysts at Piper Sandler from $105.00 to $84.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Piper Sandler's price objective would suggest a potential upside of 25.88% from the company's previous close...
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Block (SQ) Has to clear the 21D been failing there since April
By: Options Mike | July 4, 2022
• $SQ Has to clear the 21D been failing there since April. Love the name but fintwit out of play.. consolidation time...
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SQ Trendline break or bear flag breakdown?
By: TrendSpider | July 3, 2022
• $SQ Trendline break or bear flag breakdown?
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Square, Inc. (SQ) Insider Alyssa Henry Sells 30,770 Shares
By: MarketBeat | July 1, 2022
• Square, Inc. (NYSE:SQ - Get Rating) insider Alyssa Henry sold 30,770 shares of Square stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $63.47, for a total transaction of $1,952,971.90. Following the completion of the sale, the insider now owns 433,543 shares of the company's stock, valued at $27,516,974.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink...
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Square (SQ) Price Target Cut to $105.00
By: MarketBeat | June 30, 2022
• Square (NYSE:SQ - Get Rating) had its price target cut by investment analysts at Truist Financial from $145.00 to $105.00 in a research note issued on Thursday, The Fly reports. Truist Financial's target price indicates a potential upside of 69.14% from the company's current price...
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SQ Just can't escape these bear flag setups
By: TrendSpider | July 1, 2022
• $SQ Just can't escape these bear flag setups.
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Cathie Wood's ARK Invest Buys 7,198 More Shares of Block Inc. (SQ)
By: Ark Invest Daily | June 29, 2022
• Cathie Wood & Ark Invest's trade activity from today 6/29.
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Cathie Wood's ARK Invest Buys 82,040 Shares of Block Inc. (SQ)
By: Ark Invest Daily | June 21, 2022
• Cathie Wood & Ark Invest's trade activity from today 6/21.
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SQ - Block Brutal. Pandemic low is 32 area, another name on my shopping list
By: Options Mike | June 20, 2022
• $SQ Brutal. Pandemic low is 32 area, another name on my shopping list. Over sold here and well off the 8D, like's to bounce to the 21D on watch.
Like this one long term, but in no rush to start a position.
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Square, Inc. (SQ) Insider Alyssa Henry Sells 30,770 Shares
By: MarketBeat | June 17, 2022
• Square, Inc. (NYSE:SQ - Get Rating) insider Alyssa Henry sold 30,770 shares of the firm's stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $62.60, for a total transaction of $1,926,202.00. Following the sale, the insider now owns 433,543 shares in the company, valued at $27,139,791.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website...
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Square (SQ) PT Lowered to $170.00
By: MarketBeat | June 15, 2022
• Square (NYSE:SQ - Get Rating) had its price target dropped by stock analysts at Credit Suisse Group from $180.00 to $170.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Credit Suisse Group's price objective would indicate a potential upside of 181.92% from the company's previous close...
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Square (SQ) Hits New 1-Year Low on Insider Selling
By: MarketBeat | June 13, 2022
• Square, Inc. (NYSE:SQ - Get Rating) reached a new 52-week low during mid-day trading on Monday following insider selling activity. The company traded as low as $64.70 and last traded at $64.79, with a volume of 184556 shares. The stock had previously closed at $71.87.Specifically, CFO Amrita Ahuja sold 2,680 shares of Square stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $141.79, for a total value of $379,997.20. Following the sale, the chief financial officer now owns 121,461 shares of the company's stock, valued at approximately $17,221,955.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link...
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PayPal or Block?: Both Payment Innovators are Buys
By: Schaeffer's Investment Research | June 14, 2022
• Is it a Good Time to Buy PayPal Stock?
or a lot of people, recalling the last time a purchase was made with a check or cash is a challenge.
Nowadays digital is the norm when it comes to sending and receiving money. Convenience and security are two big reasons why so many of today’s transactions occur online.
When the pandemic came along, safety became reason #3. Contactless payments were quickly preferred over presenting paper. This along with the surge in online shopping put the shift toward digital payments on overdrive.
Just because pandemic conditions have improved doesn’t mean digital payment platform providers have seen their best days. Many countries have yet to transition from cash and checks. In countries that have, many merchants and consumers have yet to embrace the technology.
As the world’s payment channels continue to get intertwined and the proliferation of mobile devices ushers in a new era of mobile payments, online payment providers will continue to experience plenty of growth.
After a period of hyper pull-forward demand caused by the pandemic, growth at digital payment platform companies has slowed. In turn, a nearsighted market has punished the group by slashing share prices to below where they were at the onset of Covid-19. Huh?
Yes, plenty of competition has emerged in the space. But with demand for digital payment solutions expected to be strong for years to come, multiple winners will arise. These two innovators driving the future of financial transactions are begging to be bought at current levels...
WILL BLOCK’S STOCK RECOVER?
Block, Inc. (NYSE: SQ) is down 75% from its peak and the reasons behind the selloff have been similar to those related to PayPal. In addition, the former Square has been hurt by the downturn in Bitcoin. Last quarter’s 22% revenue drop was primarily driven by a 50% plunge in Bitcoin-related revenue.
Bitcoin’s heavy weight in the revenue mix is reason for caution, but Block will likely become far less dependent on the volatile cryptocurrency market going forward. Its core Square terminal and other point-of-sale merchant solutions should continue to generate growth as more mom-and-pop businesses gravitate to consumer-friendly and cost-effective payment systems.
Then there is peer-to-peer mobile payment platform CashApp which has been popular with younger generations. Along with Bitcoin trading, the app will soon let users buy fractional equity shares free of commissions on top of its core money transfer functionality.
Yet it is the acquisition of global BNPL platform Afterpay that could be Block’s most promising long-term growth driver. Afterpay adds a network of around 100,000 merchants and 16 million consumers globally, not to mention immense cross-sell possibilities. The space has been under pressure of late due to concerns about rising rates and consumer spending, but should ultimately be a growth area in both online and physical retail. At a time when consumers are getting buried by high credit card interest, the option to pay for purchases over time without incurring interest or fees will start to look better and better.
As with PayPal, 2022 is a year in which the reset button will be hit at Block. Financial results will be well below what they were last year mainly due to the pull-forward effect. But after this runs its course, analysts are anticipating a sharp rebound in Block’s bottom line. The current consensus EPS estimate for fiscal 2023 implies an improvement greater than 90%.
From there Block is likely to deliver the high growth that brought its share price to nearly $300 a year ago. The near-term challenges will likely persist, but given where the global payments industry is going the building blocks are there for a return to the early pandemic glory days.
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Block, Inc. (SQ) Hammered all week 65 very important level to hold
By: Options Mike | June 12, 2022
• $SQ Hammered all week 65 very important level to hold. If not could revisit the pandemic lows over time.
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Square, Inc. (SQ) Given Average Recommendation of "Buy" by Brokerages
By: MarketBeat | June 11, 2022
• Shares of Square, Inc. (NYSE:SQ - Get Rating) have earned a consensus recommendation of "Buy" from the forty-five ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twenty-eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $190.07...
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Block (SQ) Bear flag breakdown this week as MACD looks to just be getting started
By: TrendSpider | June 11, 2022
• $SQ Bear flag breakdown this week as MACD looks to just be getting started.
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